UBA Investments : ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

UBA INVESTMENTS LIMITED

開明投資有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 768)

ANNOUNCEMENT OF INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2021

RESULTS

The board of directors (the "Board") of UBA Investments Limited (the "Company") is pleased to announce that the unaudited interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 September 2021 and the Group's state of affairs as at that date together with the comparative figures as follows:

CONDENSED CONSOLIDATED INCOME STATEMENT

For the six months ended 30 September

		2021	2020
		(unaudited)		(unaudited)
	Notes	HK$'000		HK$'000
Gross proceeds from disposal of trading securities		4,487		2,388
Revenue	4	4,051	3,129
Net loss on financial assets at fair value through profit or
loss	5	(4,077)	(20,270)
Net (loss)/ gain on other investment at fair value through
profit or loss		(102)	444
Other revenue		283	-
Administrative and other operating expenses		(2,153)		(2,305)
Loss before taxation	6	(1,998)	(19,002)
Income tax expense	7	-	-
Loss for the period and total comprehensive loss
attributable to owners of the Company		(1,998)	(19,002)
Loss per share
Basic and diluted	8	(0.16)cents		(1.49)cents

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		30 September		31 March
		2021	2021
	Notes	(unaudited)		(audited)
		HK$'000		HK$'000
NON-CURRENT ASSETS
Property, plant and equipment		-	-
CURRENT ASSETS
Amounts due from related companies		939		810
Deposits		66		66
Financial assets at fair value through
profit or loss	9	97,343		101,302
Other investment		980		1,083
Cash and bank balances		3,601		1,772
		102,929		105,033
CURRENT LIABILITY
Accruals		(241)		(347)
NET CURRENT ASSETS		102,688	104,686
TOTAL ASSETS LESS CURRENT LIABILITIES		102,688	104,686
NON-CURRENT LIABILITY
Deferred tax liabilities		-		-
NET ASSETS		102,688	104,686
CAPITAL AND RESERVES
Share capital		12,717	12,717
Reserves		89,971		91,969
TOTAL EQUITY		102,688	104,686
NET ASSET VALUE PER SHARE	10	HK$0.08		HK$0.08

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NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATAEMENTS

1. GENERAL
   The Company is a public limited company incorporated in the Cayman Islands with its shares listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The address of its registered office is P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. The principal place of business is Flat B, 16th Floor, Wah Kit Commercial Centre, 300 Des Voeux Road Central, Hong Kong.
   The Company and its subsidiaries (collectively referred to as the "Group") are engaged in investment holding and trading of securities.
   The condensed consolidated financial statements are presented in Hong Kong dollars ("HK$"), which is the same as the functional currency of the Company and all values (including comparative information) are rounded to the nearest thousand (HK$'000) except when otherwise indicated.
2. BASIS OF PREPARATION
   These unaudited condensed consolidated interim financial statements have been prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA") and with the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on the Main Board of the Stock Exchange.
   The unaudited condensed consolidated financial statements do not include all the information and disclosure required in the annual consolidated financial statements, and should be read in conjunction with the Group annual consolidated financial statements for the year ended 31 March 2021.
3. APPLICATION OF NEW AND AMENDMENTS TO HONG KONG FINANCIAL REPORTING STANDARDS ("HKFRSs")
   The Group has applied the following amendments to HKFRSs issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA") which are effective for the Group's financial year beginning on or after 1 April 2021:

HKFRS 16 (Amendments) HKFRS 9, HKAS 39 and HKFRS 7, HKFRS 4 and HKFRS 16 (Amendments)

Covid-19 Related Rent Concessions beyond 30 June 2021 Interest Rate Benchmark Reform - Phase 2

The application of the amendments to HKFRSs in the current period had no material impact on the Group's consolidated financial positions and performance for the current and prior periods and/or on the disclosures set out in these condensed consolidated financial statements.

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4. REVENUE
	For the six months ended
	30 September
	2021	2020
	(unaudited)		(unaudited)
	HK$'000		HK$'000
Dividend income from:
- Listed equity investment	4,051		3,129
	4,051	3,129

No analysis of the Group's revenue and contribution to operating profit for the period set out by principal activities and geographical markets is provided as the Group has only one single business segment, investment holding and all the consolidated revenue and the consolidated results of the Group are attributable to the markets in Hong Kong.

No information about major customers has been disclosed as a substantial portion of the Group's income is derived from the Group's investment and the disclosures of information regarding customers would not be meaningful.

5. NET LOSS ON FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

The following is the analysis of net loss on investment of the Group for the six months ended 30 September 2021 and 2020. The amounts of realised loss represent the fair value difference between the beginning of the period or purchase date in the period and the disposal date of financial instruments while the amounts of unrealised loss represent the change of the fair value during the period of financial instruments held by the Group as at the period-end:

	For the six months ended
	30 September
	2021	2020
	(unaudited)		(unaudited)
	HK$'000		HK$'000
Net gain/(loss) on financial assets at financial assets at
fair value through profit or loss
- Listed equity investment
- Realised	274	(16)
- Unrealised	(4,800)	(12,490)
- Unlisted equity investment
- Unrealised	449	(7,764)
	(4,077)		(20,270)

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6. LOSS BEFORE TAXATION

Loss before taxation has been arrived at after charging the following:

	For the six months ended
	30 September
	2021	2020
	(unaudited)		(unaudited)
	HK$'000		HK$'000
Investment management fee paid to a related
company	807	836
Staff costs (including director's remuneration) ,
including defined contributions of HK$10,500
(2020: HK$10,500) to MPF Scheme	343	306
Short -term lease expense	132	132
Allowance for expected credit loss on amounts due
from investee companies	-		210

1. INCOME TAX EXPENSE
   No provision for Hong Kong profits tax has been made as the Group has no assessable profits for the six months ended 30 September 2021 and 2020.
2. LOSS PER SHARE
   The calculation of the basic loss per share for the six months ended 30 September 2021 is based on the Group's loss attributable to owners of the Company for the period of approximately HK$1,998,000 (2020: HK$19,002,000) and 1,271,732,200 (2020: 1,271,732,200) ordinary shares in issue during the period.
   The Company does not have dilutive potential ordinary shares for the six months ended 30 September 2021 and 2020.

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